openPR Logo
Press release

With 6.3% CAGR, Security Screening Market Growth to Surpass USD 10.1 billion

08-16-2022 11:23 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

The security screening market is estimated to be valued at USD 7.9 billion in 2022 and reach USD 10.1 billion by 2026, registering a CAGR of 6.3% between 2021 and 2026. Growing use of biometric systems in corporate offices and increasing need for security screening at transit points are facilitating the growth of the market.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=264685413

The security screening market includes major Tier I and II players like Smith Detection (UK), OSI Systems (US), Leidos (US), Thales (France), NEC (Japan)and others. These players have a strong market presence for security screening products and solutions across various countries in North America, Europe, APAC, and RoW.

Public gatherings fuel demand for security enhancement solutions

Public gatherings across the world have increased the deployment of security screening solutions. Large-scale public events are vulnerable to terrorist attacks. The use of closed-circuit television(CCTV) helps to an extent, but it does not eliminate the chances of a terrorist attack. Biometrics technology can reduce the risk because of its high accuracy and elimination of duplicity. Biometric technologies make it easy to conduct identity-based risk analysis, including validation of background checks and photo identification. Walk-through metal detectors can be used at such public gatherings to avoid any terrorist activities from taking place. Handheld metal detectors can also be used for scanning individuals

Biometric system is expected to hold the highest market share during the forecast period

Biometric systems use automated methods for verifying or recognizing the identity of a living person based on his/her physiological or behavioral characteristics that are measurable in various forms. Fingerprint scanning is a conventional biometric technology that has evolved over the years and is widely used for biometric screening purposes. Fingerprint scanners are used for travel and immigration by government agencies, homeland security, and other concerned agencies for people screening. The large market size of fingerprint scanners in the security screening market is because it is a mature and widely adopted product.

Transportation industry to hold the highest CAGR of security screening market during the forecast period

The transportation sector includes transit locations such as airports, seaports, rail stations, and bus stations. The global passenger traffic is expected to increase tremendously by 2025. A large number of passengers pass through these transit locations, and to maintain security at these sites, contraband detection systems, such as metal detectors and X-ray scanners, are used. Security screening devices are used at all airports worldwide, as a large number of individuals pass through airports every day. After the terrorist attacks in the US in 2001, airport authorities were being directed to upgrade airport security with the latest screening technology.

Baggage and cargo screening application to hold the highest CAGR of security screening market during the forecast period

The delivery of mails and parcels is witnessing a boom, especially due to the extensive growth of e-commerce. By the end of 2021, worldwide e-commerce sales are expected to reach almost USD 5 trillion, or 17.5% of all retail sales. With a lot of parcels and small packages moving around owing to the rise in e-commerce sales, parcel screening becomes critical. While convenient for consumers and companies, the huge flow of post and package deliveries to homes and businesses represents a growing security vulnerability. This vulnerability demands the screening of mails and parcels and, hence, could create a huge demand for security screening systems and solutions.

Security screening market in North America to hold the highest market share during the forecast period

There is a huge opportunity for the security screening market in the aviation security segment. The US, Canada, and Mexico are among the top 5 countries with the highest number of airports. These three countries together have 19,636 airports. This increases the need for the security of people and their belongings at airports. The need for personal security in developed countries and regions will always be high due to the high crime rate, smuggling, and threats of terrorism in such regions.

Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=264685413

Key players in the security screening market are OSI Systems (US), Smiths Detection (UK), Leidos (US), Thales (France), Bruker (US), NEC (Japan), Digital Barriers (UK), ADANI Systems (US), VOTI Detection (Canada), Magal Security Systems (Israel), Aware (US), Argus Global (Australia), FLIR Systems (US), and Analogic Corporation (US).

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release With 6.3% CAGR, Security Screening Market Growth to Surpass USD 10.1 billion here

News-ID: 2705277 • Views:

More Releases from MarketsandMarkets

Transplant Diagnostics Market worth $6.8 million by 2028: Enabling Personalized Transplantation Approaches
Transplant Diagnostics Market worth $6.8 million by 2028: Enabling Personalized …
Transplant Diagnostics market was a rapidly growing sector within the healthcare industry. Transplant diagnostics involves a set of tests and procedures performed to assess the compatibility between a donor and recipient before organ or tissue transplantation. These tests are crucial to ensure successful transplant outcomes and minimize the risk of rejection. Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=2531061&utm_source=Openpr&utm_campaign=Paid&utm_content=Referral Transplant Diagnostics Market in terms of revenue was estimated to be worth $4.4 billion in 2022
Primary Cells Market worth $2.8 billion by 2028 | Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Lonza Group (Switzerland), Cell Biologics, Inc. (US)
Primary Cells Market worth $2.8 billion by 2028 | Thermo Fisher Scientific, Inc. …
Primary Cells Market in terms of revenue was estimated to be worth $1.7 billion in 2023 and is poised to reach $2.8 billion by 2028, growing at a CAGR of 10.5% from 2023 to 2028 according to a new report by MarketsandMarkets™. The growth of this market can be attributed to factors such as the is government investments for cell-based research, rising growth in pharmaceutical & biotechnology industries, increasing cancer
Autoinjectors Market worth $104.9 billion by 2025 - Exclusive Report by MarketsandMarkets™
Autoinjectors Market worth $104.9 billion by 2025 - Exclusive Report by Marketsa …
Autoinjectors Market by Therapy (Rheumatoid Arthritis, Multiple Sclerosis, Anaphylaxis, Cardiovascular Diseases, Diabetes), Type (Disposable, Reusable), Route of administration (Subcutaneous, Intramuscular), End User (Hospital) - Global Forecast to 2025", published by MarketsandMarkets™, the Autoinjectors Market is projected to reach USD 104.9 billion by 2025 from USD 46.0 billion in 2020, at a CAGR of 17.9% from 2020 to 2025. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=173991724&utm_source=Openpr&utm_campaign=Paid&utm_content=Referral Browse in-depth TOC on "Autoinjectors Market" 99 - Tables 55 - Figures 180
Cell Therapy Technologies Market Poised for Remarkable Growth, $7.8 Billion Expected by 2028
Cell Therapy Technologies Market Poised for Remarkable Growth, $7.8 Billion Expe …
Cell Therapy Overview: Cell therapy is a rapidly evolving field in regenerative medicine that involves the use of living cells to treat various medical conditions and diseases. These therapies can be categorized into two main types: autologous (using a patient's own cells) and allogeneic (using cells from a donor). Cell therapy holds great promise for treating a wide range of conditions, including cancer, autoimmune diseases, neurological disorders, and more. The cell therapy

All 5 Releases


More Releases for Biometric

Biometric ATM Market Growing Penetration and Adoption of Voice Biometric Solutio …
The global biometric ATM market size is expected to be valued at US$ 1,960.5 million in 2022 and grow at a CAGR of 30.3% over the forecast period. Biometric ATMs are self-service automated teller machines (ATMs), or cash machines, that use a biometric measure to identify customers and allow them to withdraw cash. Biometric authentication may be the only customer identifier used, or it may be used in conjunction with
Mantra's fingerprint scanners now support biometric log-in with Windows Biometri …
Mantra Softech, one of the leading Biometrics and RFID solutions companies, has recently announced that its three fingerprint scanners i.e. MFS500, Mapro CX, and Mapro OX, drivers now support Windows Biometric Framework and work with "Hello" for login in windows 8.1 and 10 with fingerprint authentication. The WBF has a set of services and interfaces to support the development and management of biometric devices. This framework provides compatibility with biometric services
Healthcare Biometric Market, Worldwide, 2030
The “Healthcare Biometric Market Analysis to 2030” is a specialized and in-depth study of the Healthcare Biometric industry with a focus on the Healthcare Biometric market trend. The report aims to provide an overview of the Healthcare Biometric market with detailed market segmentation by component, application, end-user, and geography. The Healthcare Biometric market is expected to witness high growth during the forecast period. The report includes key statistics on the
Ahmedabad-based leading Biometric firm Mantra Softech launches the portable biom …
With the increasing security concerns and rise in the deployment of biometric fingerprint, facial and iris recognition devices, several verticals are making a smart move by adopting biometric technology. The world witnessed a huge growth in Indian biometric market, especially after incorporation of various government-led initiatives like UID-Aadhaar, issuance of ePassports, visas, etc. Indian biometric market upsurged tremendously in 2018, reaching the value of $1.7 billion and is further expected
Biometric ATM Market 2018 - The demand of Biometric ATM will drastically increas …
Biometric ATM Market Survey 2018 The Biometric ATM Market report is a complete research study on the Biometric ATM market, which attempts to present a clear picture of the key factors that shape this market. The assessments of a number of market segments, distinguished on the basis of the products, their applications, and the geographies, come under the scope of this research study. It further provides the profile reviews of the leading market
Global Biometric Sensors Market: Innovative Features of Biometric Sensors Notice …
SAN FRANCISCO, Nov. 28, 2017 According to the latest report published by Variant Market Research, the global biometric sensors market is projected to reach $1,820 million by 2024, from $868 million in 2016; at a CAGR of 9.7% from 2016 to 2024. Click Here to Request a Free Sample PDF of This Report @ https://www.variantmarketresearch.com/report-categories/semiconductor-electronics/biometric-sensors-market/sample-request Rising adoption for fingerprint identification in electronic devices to drive the global biometric sensors market The global